Pensioners Of The Maxwell Communications Pension Fund

EDM number 89 in 2004-05, proposed by Tom Cox on 23/11/2004.

That this House notes with deep regret that years after the collapse of the Robert Maxwell companies due to the theft of the pension funds, some 1,400 former employees out of a total of 32,000 are still only receiving a fraction of the pensions which they paid into for many years; further notes that, following vigorous efforts of Parliament, a great deal of the funds were recovered by Lord Cuckney from city institutions; regrets that the distribution of the ú280 million raised which should have been sufficient to ensure every pensioner received their full entitlement was not as successful as might have been expected, leaving this particular fund in shortfall, whilst ú30 million of the monies collected to fully restore the pension funds were appropriated by HM Treasury; and therefore calls upon the Government, and in particular HM Treasury, to remit the ú30 million to the pension fund in order to raise their present pensions to what the former employees believe is their promised and rightful entitlement.

This motion has been signed by a total of 124 MPs.